Worth Watching: Could AXT Inc Lose Strenght? The Stock Just Gapped Up

Worth Watching: Could AXT Inc Lose Strenght? The Stock Just Gapped Up

The stock of AXT Inc (NASDAQ:AXTI) gapped up by $0.01 today and has $15.18 target or 174.00% above today’s $5.54 share price. The 7 months technical chart setup indicates low risk for the $188.53 million company. The gap was reported on Oct, 4 by Barchart.com. If the $15.18 price target is reached, the company will be worth $328.04 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 6.74% or $0.35 on October 3, hitting $5.54. About 999,152 shares traded hands or 274.02% up from the average. AXT Inc (NASDAQ:AXTI) has risen 106.72% since March 1, 2016 and is uptrending. It has outperformed by 94.50% the S&P500.

Analysts await AXT Inc (NASDAQ:AXTI) to report earnings on November, 3. AXTI’s profit will be $680,614 for 69.25 P/E if the $0.02 EPS becomes a reality. After $0.03 actual EPS reported by AXT Inc for the previous quarter, Wall Street now forecasts -33.33% negative EPS growth.

AXT Inc (NASDAQ:AXTI) Ratings Coverage

Out of 2 analysts covering AXT Inc (NASDAQ:AXTI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. AXT Inc has been the topic of 2 analyst reports since December 9, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, May 3 by Craig Hallum. The stock has “Buy” rating given by B. Riley & Co on Wednesday, December 9.

According to Zacks Investment Research, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers.”

Insitutional Activity: The institutional sentiment increased to 1.62 in Q2 2016. Its up 0.77, from 0.85 in 2016Q1. The ratio improved, as 2 funds sold all AXT Inc shares owned while 11 reduced positions. 12 funds bought stakes while 9 increased positions. They now own 13.17 million shares or 0.47% more from 13.11 million shares in 2016Q1.
Coe Capital Mgmt Ltd Llc, a Illinois-based fund reported 122,420 shares. Jacobs Levy Equity last reported 0% of its portfolio in the stock. Ancora Advsrs Ltd owns 275,900 shares or 0.1% of their US portfolio. Focused Wealth Mgmt accumulated 0% or 1,000 shares. Mufg Americas Holding Corporation holds 2,760 shares or 0% of its portfolio. Jpmorgan Chase Company reported 12,400 shares or 0% of all its holdings. Ariel Limited Liability Corporation holds 2.44M shares or 0.1% of its portfolio. The Texas-based Dimensional Fund Advsrs Limited Partnership has invested 0% in AXT Inc (NASDAQ:AXTI). California Pub Employees Retirement System owns 130,400 shares or 0% of their US portfolio. Princeton Capital Mngmt reported 466,550 shares or 1.03% of all its holdings. Zpr Investment accumulated 0.08% or 12,434 shares. Art Advisors Ltd Liability Corporation accumulated 0.01% or 31,855 shares. Susquehanna Intl Grp Llp has invested 0% of its portfolio in AXT Inc (NASDAQ:AXTI). Renaissance Technology Ltd Liability Com reported 800,625 shares or 0% of all its holdings. New York State Common Retirement Fund holds 0% of its portfolio in AXT Inc (NASDAQ:AXTI) for 324,999 shares.

Insider Transactions: Since August 29, 2016, the stock had 0 insider buys, and 1 sale for $116,673 net activity. On Monday, August 29 the insider Ochrym Robert G sold $116,673.

More recent AXT Inc (NASDAQ:AXTI) news were published by: Zacks.com which released: “Bull of the Day: AXT Inc (AXTI)” on September 20, 2016. Also Zacks.com published the news titled: “Surging Earnings Estimates Signal Good News for AXT Inc. (AXTI)” on September 20, 2016. Streetinsider.com‘s news article titled: “AXT, Inc. (AXTI) Tops Q2 EPS by 2c” with publication date: July 27, 2016 was also an interesting one.

AXTI Company Profile

AXT, Inc. (AXT), incorporated in November 13, 1997, is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Firm is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials. The Firm provides alternative or specialty materials in the form of substrates or wafers, including compound and single element substrates. The Company’s compound substrates combine indium with phosphorous (InP) or gallium with arsenic (GaAs). The Company’s single element substrates are made from germanium (Ge).

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